Fact-check · Nov 2, 2026 · Donald Trump
“We're making an absolute fortune in our country. Again, more than Saudi Arabia and Russia They're the second and third.”
MISLEADING
What the record shows
US crude oil production: 13.6 million b/d (2025, EIA); Russia: 9.9 mb/d; Saudi Arabia: 9.6 mb/d. US leads in volume by ~40%. However, Saudi Aramco's 2025 profits ($104.7B) exceeded combined US oil company earnings. National oil revenue comparisons require accounting for price, volume, and tax structures.
Production ranking is accurate, but 'making an absolute fortune' conflates volume with financial returns. Saudi Aramco alone outearned US oil companies in 2025.
Sources
- EIA Raises USA Oil Production Forecast for 2026, 2027
- EIA Raises USA Oil Production Forecasts for 2026, 2027
- EIA forecasts U.S. crude oil production will decrease slightly in 2026 - U.S. Energy Information Administration (EIA)
- The United States produced more crude oil than any other country in 2025 - U.S. Energy Information Administration (EIA)
- EIA forecasts near-term U.S. crude oil production will remain near 2025 record - U.S. Energy Information Administration (EIA)
- US Oil Production per Day, in Barrels
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